Thursday, 25 December 2014
Last updated 1 day ago
Aug 29 2013 | 12:35pm ET
The world's biggest bond-fund manager is set to take advantage of new hedge-fund advertising rules.
Pacific Investment Management Co. plans a major expansion of its alternative investments business and is already preparing a new offering that will be available to retail investors with a $1,000 minimum investment, The Wall Street Journal reports.
Douglas Hodge, PIMCO's chief operating officer, told the Journal that alternatives are "a very important area for us," one made even more attractive by the lifting of an 80-year-old ban on hedge-fund advertising that takes effect next month.
"The world is going to change he because of the JOBS Act," he said.
Earlier this month, PIMCO filed a preliminary prospectus for a new liquid alternative fund that will invest in interest-rate, currency, mortgage, credit and commodity derivatives. The Pimco Trends Managed Futures Strategy Fund will have a retail share class with a $1,000 minimum, akin to a mutual fund.
Hodge said that the decision to expand its alternatives business—PIMCO already runs a $29 billion alternative bond fund—is a result of client demand.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.